SA firm buys 51% of local fast food chain

Franchised fast foods outlets have grown by 44% in the past five years in Botswana
Franchised fast foods outlets have grown by 44% in the past five years in Botswana

South Africa’s biggest franchise group, Famous Brands has acquired a 51 percent controlling stake in local fast food counterpart, Retail Group Botswana, in a deal whose financial details are not disclosed.

Retail Group, which is Famous Brands’ local licence partner, runs 28 restaurants in Botswana in a portfolio that includes Wimpy, Debonairs Pizza, Mugg & Bean, Milky Lane and Steers.

In a statement released yesterday, Famous Brands Group Chief Executive, Kevin Hedderwick stated the transaction aligns with their deliberate approach to either acquire or take a controlling stake in businesses that use their licensed brand in neighbouring countries.

Editor's Comment
Happy Independence!

We are 56 years old and what do we have to show for it? Looking at where Botswana started and where it is today, there are a lot of developments, but whether the developments match the number of years we have enjoyed as a country is a topic for another day.The fact that cannot be denied is we have seen major developments, but we are still lacking in several pertinent areas.Our beautiful country imports almost everything. We import fuel, food,...

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